Oyster Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $214 per board. This includes 35 pounds of direct materials, at the budgeted price of $2 per pound, and 10 hours of direct manufacturing labor, at the budgeted rate of $14.40 per hour. Following are additional data for the month of July:

Units completed 5,500 units

Direct material purchases 230,000 pounds

Cost of direct material purchases $782,000

Actual direct manufacturing labor-hours 48,000 hours

Actual direct labor cost $705,600

Direct materials efficiency variance $1,100 F

There were no beginning inventories.

Price variance $14,400 U

Efficiency variance $100,800 F

Flexible-budget variance $86,400 F

Actual pounds of direct materials used in production : 191,950 pounds

Requirement 3. Calculate the actual price per pound of direct materials purchased. Determine the formula, then complete the computation. (Round your answer to the nearest cent.)